For the first time, the White House confirmed that President Obama will support an extension of the first-time homebuyer tax credit beyond November of this year. There appears to be bipartisan support for this to take place.
This is excellent news for the local housing industry. There has been a tremendous amount of movement and competition among buyers over the past several months. Allowing more first-time buyers the opportunity to take advantage of this tax credit into next year will help the local market remain strong. There have been consistent indicators of a housing recovery in our area during the past few months.
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